Four core dimensions make up competitive advantages for business. They are cost, quality, flexibility and response time. When I consider these dimensions, four companies come to mind. The ones I would like to provide information on are Trader Joe’s, Apple, Ivory and Spectrum.
Cost:
The first company that have cost advantage over their competitors are Trader Joe’s. They have the best prices on all their products from the fruits to the meats. They offer the best value for your money. I would rather shop at Trader Joe’s than Whole Foods because of the low prices. Many individuals look to retailers to provide them with products and services that they feel good about purchasing and Trader Joe’s full fill the needs of customers. Trader Joe’s is so in tuned to their customers that they decided to cut out delivering groceries in certain states so they continue to offer low cost-savings to customers.
Quality:
When I think about how good my skin feels after washing it with Ivory soap, I can’t help but to think about the quality that goes into the production of this product. This is the only soap that floats in the water. You don’t have to worry about having mushy soap because of its ability to float. It does ot sink to the bottom of the tub and become lost. It is pure and gentle to the body. It is free of dyes, perfumes and contain clean and purposeful ingredients that also moisturizes the body. Today, this organization still delivers their promise seven generations later. Ivory, ensures that their products are positioned so they are the first selection that you see when you walk down the aisle. Gringarten (2018) defines positioning as “arranging for a merchendises in occuping a clear, distinctive, and desirable place relative to competing products in the minds of target customers” (p.54).
Response time:
Spectrum is the company that takes this award. Communications is the fastest growing business in the industry. You can call Spectrum 24/7 and reach an agent ready to trouble shoot your problem of assist you with changes. They are committed to bringing customers the fastest, most advanced and reliable TV, internet and phone services. If you are a new customer they get you a scheduled appointment within 48 hours of starting new service.
Flexibility:
References:
Gringarten, H. (2018). Price and store image as mitigating factors in the perception and evaluation of retailers’ customer-based brand equity. Journal of Multidisciplinary Research (1947-2900), 10(1/2), 51-84. Retrieved from http://search.ebscohost.com.libauth.purdueglobal.edu/login.aspx?direct=true&db=a9h&AN=130633634&site=ehost-live